Shares of Ferrari NV fell 6.11% to €291.05 on Euronext Milan on Tuesday after the Italian luxury carmaker unveiled the Luce, its first fully electric vehicle, priced at $640,000 and designed in collaboration with LoveFrom, the agency founded by former Apple design chief Sir Jony Ive.
The Luce, whose name means “light” in Italian, marks a significant departure for the brand. It is Ferrari’s first five-seater and its first battery-only car, developed over five years under CEO Benedetto Vigna. The car uses a Ferrari-made electric motor on each wheel and accelerates from zero to 60 miles per hour in approximately 2.5 seconds. Ferrari said all components are manufactured in-house to ensure long-term repairability and protect resale value.
The market reaction reflected investor unease about the brand risk of the move. Reactions on social media ranged from enthusiastic praise, with one post calling it an “absolute masterclass in design” and “a total game changer,” to sharp criticism echoing the backlash that followed Jaguar’s electric concept unveiling. One widely circulated post said Ferrari had “killed their brand just like Jaguar did.”
Ferrari’s chief design officer Flavio Manzoni acknowledged the launch was “polarising” but said critics are part of the innovation process and expressed confidence that perception would shift in the months ahead. Ferrari confirmed it will continue to offer petrol and hybrid models alongside the Luce.
The launch arrives as Ferrari’s direct competitors retreat from the EV space. Lamborghini has abandoned its all-electric plans entirely, pivoting to hybrids citing low demand for luxury EVs. Porsche has scaled back its EV ambitions amid weak sales in China and US tariff pressures. Ford and Volkswagen have similarly doubled down on petrol vehicles following regulatory changes under President Donald Trump, who cut federal incentives for EV buyers.
Ferrari’s move against the grain of its competitors sets up a critical test of whether the brand’s pricing power and exclusivity can insulate it from the demand headwinds that have slowed EV adoption elsewhere in the luxury segment.
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